Bank of India rebounds from what traders call 'freak' trade

Reuters Market Eye - Shares in Bank of India make a sharp fall before quickly recovering in what some traders describe as a "freak" trade.

Trading at 336.65 rupees, down 1.2 percent, Bank of India shares suddenly fell to 314 rupees, down 7.8 percent on the day, at around 12:20 p.m IST. The shares, however, recover to 337.35.

On Friday, shares of Tata Motors and Ultratech Cement fell as much as 10 percent due to a technology glitch at Religare Capital that caused "unintended transactions", the brokerage said. (Read more, click http://in.reuters.com/article/idINDEE91101N20130202)

The National Stock Exchange, where the Bank of India trade occurred, did not have any immediate comment.

 

(Reporting by Abhishek Vishnoi)